Kenneth Starr, a celebrity financial adviser to stars including actors Wesley Snipes and Sly Stallone, was charged today with carrying out a massive $30 million fraud on his clients — then spending the money on a luxury apartment and jewelry, federal prosecutors said.

Starr, head of the Manhattan-based Starr and Co., was charged with wire fraud, fraud by an investment advisor, money laundering, making false statements to the IRS and lying to federal agents.

Starr, 65, is accused of promising his clients that their money would be invested in “sure deals” — but instead steered the cash to himself and his associates in “risky” investments, according to the 37-page indictment unsealed by the Manhattan US Attorney’s Office.

His associates included Andrew Stein, a one-time mayoral hopeful who had served as Manhattan borough president.

Stein was borough president from 1978 through 1985 and president of the City Council from 1986 through 1993.

Starr’s stripper wife, Diana Passage, was also implicated in the scheme — accused by the feds of operating a company named Colcave, LLC. The feds said the company was a place were Starr commonly transferred money to.

Manhattan US Attorney Preet Bharara said investigators were searching Starr’s office and are in the process of freezing over 20 bank accounts as they search for more victims.

“Anyone can be a victim of financial fraud, whether you are an ordinary citizen or a savvy businessman or a sophisticated celebrity,” he said. “If a deal sounds too good to be true, it probably is.”

Similar to Ponzi schemer Bernie Madoff, Starr became friends with some of his best clients.

“He made it a point to seem it was a very exclusive thing, creating a mystique about what it means to be a client of Mr. Starr,” said Bharara.

The feds said Starr was so close to his clients that he was given “direct control” to their personal bank accounts — but took advantage of them by routinely making unauthorized transfers.

Lawyers for Starr and Stein did not immediately return calls seeking comment.

When a client made a demand for payment for a return on an investment, Starr took the money from one account to another in what the feds said was a scam “characteristic of a Ponzi scheme.”

According to a separate SEC complaint also filed today, Starr and others had power of attorney, or signatory authority, that enabled them to control many bank and investment accounts belonging to their clients.

As a result, Starr was able to use some of his clients’ funds to purchase a posh $7.6 million East Side apartment. The five-bedroom apartment includes a rec room with a wet bar, a 32-foot granite lap pool and a 1,500 square-foot garden.

He also splurged on a $32,000 wedding band and a $13,000 pair of diamond earrings, according to the complaint.

Starr allegedly misappropriated about $1.7 million from one client over several dates between August 2009 and November 2009, including about $1 million from an account for a charity run by that investor, according to the SEC.

He also allegedly tried to withdraw another $750,000 from that client’s account in April, but was unable to after the investor’s bank alerted the investor.

None of the clients who were defrauded in the scheme were named in the criminal complaint, although two of them were identified as Yakov Arabov, also known as “Jacob the Jeweler,” and his wife.

“Mr. and Mrs. Arabov unfortunately invested substantial personal assets through several prominent individuals they trusted. It is now clear that they were defrauded. Mr. and Mrs. Arabov intend to pursue all legal remedies the law provides in an effort to recover their investments,” said their lawyer, Ben Brafman.

The feds allege that Starr took money from Arabov and made a $100,000 loan to former Philadelphia 76’ers great Julius “Dr. J” Erving.

In its lawsuit, the SEC alleged that Starr’s company provides services to more than 30 high-net-worth individuals — “many of whom are socialites or luminaries in the entertainment and business worlds.” The company has assets under management in excess of $700 million.

One of Starr’s employees, who did not want to give his name, was shocked by the arrest.

“Kenneth was a great person to work for,” said the staffer. “I’m disappointed and shocked by all of this.”

Another staffer, who also did not want to be identified, said he was grilled for two hours by the IRS. He said he was stunned that Starr was involved in a scheme to defraud clients.

In 2008, Starr testified that he warned Snipes that he could get into trouble if he didn’t pay his taxes. Snipes, the star of the “Blade” movies, was convicted in Florida of three counts of failing to file tax returns, but was cleared on fraud and conspiracy charges.

Starr also once advised Stallone, who later sued him. He claimed Starr advised him to keep his investment in Planet Hollywood restaurants even though Starr told others the chain was headed for bankruptcy. The suit was eventually settled.